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Commercial real estate suffered a sharp decline in May, with sales falling dramatically from the same month a year ago and the previous month.

Shelby County saw just 35 commercial sales in May, marking a 49 percent dropoff from 69 sales in May 2008 and a 35 percent dropoff from 54 sales in April, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

The World Overcomers Ministries Church Inc. has bought the former Macy’s department store at the Hickory Ridge Mall. The church, which already owned the main mall building, paid $1 million for the 212,282-square-foot store. Macy’s anchored the mall’s west side before a tornado damaged the property last year.

Editor's note: This is the first in The Daily News' five-part Retail Reinvented series about the past - and future - of the local shopping landscape.

The former site of the iconic Mall of Memphis now lays open and empty, thanks to a demolition more than two years ago of the 1.2 million-square-foot retail center. But that might change within the next year or so as the mall site could begin to resemble the thriving retail center it once was.

26. Archived Article: Real Focus - Tuesday, December 11, 2001 By JENNIFER MURLEY REITs gain credibility with S & P showing By JENNIFER MURLEY The Daily News Known as one of the more conservative investment vehicles, real estate investment trusts have continued to gain credibility in a volatile financial ma...

28. Archived Article: Warranty Deeds - Monday, July 15, 1996 7/15 jts warranty deeds Big property deals worth over $33 million in second quarter By JAMES SNYDER The Daily News The largest property sales in Shelby County totaled more than $33 million during the second quarter of 1996, with 12 deals filed in ex...